LiveOne, Inc. (NASDAQ:LVO) Sees Large Decrease in Short Interest

LiveOne, Inc. (NASDAQ:LVO - Get Free Report) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 2,480,000 shares, a decline of 30.3% from the May 15th total of 3,560,000 shares. Based on an average daily volume of 334,800 shares, the days-to-cover ratio is currently 7.4 days. Approximately 3.4% of the company's stock are short sold.

Hedge Funds Weigh In On LiveOne

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in LiveOne by 6.8% in the 4th quarter. Bank of New York Mellon Corp now owns 163,787 shares of the company's stock worth $241,000 after purchasing an additional 10,425 shares in the last quarter. Barclays PLC raised its position in LiveOne by 10.9% during the fourth quarter. Barclays PLC now owns 117,956 shares of the company's stock valued at $173,000 after acquiring an additional 11,548 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of LiveOne by 55.5% in the 4th quarter. Wells Fargo & Company MN now owns 38,201 shares of the company's stock valued at $56,000 after purchasing an additional 13,629 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of LiveOne by 63.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,954 shares of the company's stock worth $53,000 after acquiring an additional 13,900 shares during the period. Finally, Bank of America Corp DE raised its holdings in LiveOne by 35.4% in the 4th quarter. Bank of America Corp DE now owns 59,595 shares of the company's stock worth $88,000 after purchasing an additional 15,574 shares during the period. Institutional investors and hedge funds own 21.25% of the company's stock.

LiveOne Trading Down 6.5%

Shares of LVO stock traded down $0.05 during trading hours on Friday, reaching $0.72. 473,387 shares of the company's stock were exchanged, compared to its average volume of 501,513. LiveOne has a fifty-two week low of $0.55 and a fifty-two week high of $1.82. The stock's 50 day moving average is $0.75 and its 200-day moving average is $0.91. The company has a market cap of $69.00 million, a price-to-earnings ratio of -3.99 and a beta of 1.64.

LiveOne (NASDAQ:LVO - Get Free Report) last announced its earnings results on Wednesday, June 18th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $19.29 million for the quarter, compared to analysts' expectations of $22.80 million. Equities analysts anticipate that LiveOne will post -0.1 EPS for the current year.

About LiveOne

LiveOne, Inc, a digital media company, engages in the acquisition, distribution, and monetization of live music, Internet radio, podcasting/vodcasting, and music-related streaming and video content. It operates LiveXLive, a live music streaming platform; PodcastOne, a podcasting platform; and Slacker, an integrated membership and advertising streaming music service, as well as produces original music-related content.